I can't pay my payday loans
Date: Wed, 06/20/2012 - 14:54
I have been trapped in the payday loan cycle for the last 3 years. I'm done and I WANT OUT! I can barely pay my regular bills let alone the payday loans. My credit has been wrecked because of the payday loan companies sending my accounts to collections. The loans that I need to pay off are LEGAL, so I need to find a way to get them paid off. I am living off of very little right now and I am behind on all my credit cards. Even a payment plan doesn't sound viable right now to get the pdl's paid off. I don't know what to do. HELP!
Try to settle your debts with your lender on your own. It will s
Try to settle your debts with your lender on your own. It will save your money and cut your cost. Check out these steps to know how to settle debts yourself: http://www.debtconsolidationcare.com/steps.html
How much do you owe? If you know you can't afford the standard
How much do you owe? If you know you can't afford the standard payment plan, generally your best option is to default on the loan then work out a payoff plan with collections. You'll have to revoke ACH auth and let them know you're doing so purposely to force the account to collections. Legal lenders usually abide by the ACH revoke but not all do. It's probably safest to go ahead and close your account before you revoke.